Electronic account payments

You can apply for an electronic account payment limit from your branch. The limit should be equal to the average number of cash and cheque deposits or withdrawals on your account. Where the limit you ask us for is more than your monthly turnover, information such as projected cash flow must support your application. Any application to load or increase limits must be signed by the account holder.

What do I need to apply?

Opening a Business account

Please make sure that you take original documents to the branch.

General Account Opening Requirements

Identification documents of directors, signatories, principal executive officer, shareholders with 25% or more voting rights and persons acting on behalf of company**

Proof of physical or trading address of business

The business’ last three months’ bank statements (if existing).

Valid Traders License and Tax Clearance

Proof of residence for signatories/directors

Three months bank statement for existing businesses

Unlisted company

Specific requirements in addition to general requirements

Certificate of incorporation

Memorandum of Association

Articles of Association

Certificate of change of name of company

Listed company

Specific requirements in addition to general requirements (Country requests link to be provided leading to general requirements)

Certificate of Incorporation

Memorandum of Association

Articles of Association

Certificate of change of name of company (if applicable)

Proof of listing (print out from stock exchange)

Group structure (if wholly-owned subsidiary of a listed company)

External company

Specific requirements in addition to general requirements (Country requests link to be provided leading to general requirements)

Certificate of registration of memorandum of external company

Proof of listing (if listed on a foreign stock exchange)

Official incorporation documents from relevant foreign country

Notice of person authorised to accept service on behalf of external company

Co-operative

Specific requirements in addition to general requirements

Constitution

Certificate of registration of co-operative

Partnership

Specific requirements in addition to general requirements

Partnership agreement (or letter confirming that one does not exist)

Sole proprietor

Refer to general requirements

Informal body

Constitution or other founding document (or letter confirming that one exists)Trusts

Trust Deed (or other founding document)

Letter of authority.

Identification documents of founder of trust, trustees, beneficiaries, signatories and persons who act on behalf of a trust**

Proof of address of the Master's Office where the trust is registered (use Letter of Authority).

Identification documents of executor, signatories and persons who act on behalf of the executor**

Identity document of deceased.

Insolvent estates/in liquidation

Certificate of appointment

Identification documents of executor, signatories and persons who act on behalf of the executor.**

Notes

* If your company does not have a Certificate of Incorporation, we need all your registration documents.

** For persons acting on behalf of any business entity, we need written confirmation that the person has authority to act on behalf of the entity. This is usually any one of the following: a power of attorney, a written mandate, a court order, letters of authority, or a resolution duly executed by the authorised signatories to the account.

Acceptable forms of verification

The following are acceptable forms of proof of trade name and physical address of a business/juristic entity.(Please note that printouts, emails and over-the-counter statements are not accepted.)

A utility bill (less than three months old)

A copy of a lease or rental agreement signed by both parties (less than three months old)

A municipal rates and taxes invoice (less than three months old)

A mortgage statement from a financial institution not within the Standard Bank Group (less than six months old)

A landline or mobile phone account (less than three months old)

An official tax return or tax assessment (less than one year old)

Official correspondence from the Lesotho Revenue Authority (less than three months old)

A valid television licence or renewal document (less than one year old)

A valid agreement from a security company showing the trade name and physical address of the business at which an alarm is installed (less than three months old)

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Apply for a Electronic Account Payments

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